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Joe Biden economic plan: stimulus check, unemployment benefits and more

As millions of Americans are waiting for Congress to approve and send a second round of payments, Joe Biden wants people to receive a third direct payment if elected.

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Joe Biden economic plan: stimulus check, unemployment benefits and more

Congress has not yet reached an agreement on the fifth stimulus relief package amid the coronavirus pandemic, that among other measures, it will send a second round of stimulus payments to millions of Americans struggling financially.

Lawmakers are scheduled to return back to work in September, after Labor Day weekend and hopefully Republicans and Democrats can draft and approve a stimulus relief package. While Americans await for Congress to come to an agreement, former Democratic Presidential candidate Joe Biden is already thinking about aiding Americans if elected in November.

Third round of stimulus checks

Joe Biden has stated that if he wins the elections in November and takes over the White House, he is willing to send a second round of stimulus payments to “jumpstart” the economy. Biden is proposing a $4 trillion in new tax increases to fund a collection of federal programs to pull the US out of recession.

Under his plan he wants to create an $8,000 annual tax credit for parents of young children, cover the cost of health-insurance for newly employed people and off course send another round of stimulus checks. Also Biden wants to implement paid sick leave for workers.

Even though Joe Biden talked about his economic plan amid the coronavirus pandemic, he did not specify the amount of money he plans to send in the third round of stimulus payments. Another subject he touched was about including a $700 billion initiative to shore up US manufacturing and research programs to “spur innovation at home.”